CO2 GRO Inc (TSX-V:GROW, OTCQB:BLONF). has announced funding from the government of Canada’s CanExport Program that will help it expand and diversify its international business scope.
The ongoing CanExport Program is a financial contribution mechanism for early-stage Canadian small and medium-sized enterprises (SMEs) for international business development activities.
The program focuses on export marketing activities of existing products and services in foreign markets. It is delivered by the Canadian Trade Commissioner Service (TCS) Global Affairs Canada, in partnership with the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP).
READ: CO2 GRO announces US$30K sale of its CO2 Delivery Solutions technology to Arizona greenhouse grower
"We are delighted to have been chosen by the CanExport Program in competition with numerous other Canadian SMEs,” said Aaron Archibald, CO2 GRO’s vice president of sales & strategic alliances, in a statement.
“This further validates our CO2 Delivery Solutions technology's global market potential, which represents over 600 billion square feet of protected agriculture. We have been working with various Trade Commissioners around the world and will continue to do so as a core strategic initiative of our international expansion plans. We are thankful to the Trade Commissioner Service for not only their award of this financial contribution, but also their support in helping us enter global markets."
The Toronto-based company’s CO2 Delivery Solutions technology creates a saturated CO2 solution that when misted onto plants provides growers that cannot gas with CO2 the opportunity to increase plant yields by up to 30% and profits by up to 100%.
Applying saturated CO2 also suppresses the development of pathogens such as E.coli and powdery mildew, helping to reduce crop losses.
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